ISLAMABAD: Chairman Federal Board of Revenue (FBR) Rashid Mahmood, Wednesday, said that the FBR has moved seven summaries to the prime minister for enforcement including two summaries for taking action against sales of illicit cigarettes and smuggled products under the FBR’s transformation plan.
The FBR chairman informed the Senate Standing Committee on Finance, on Wednesday, that the FBR will generate Rs200 billion to Rs250 billion through these enforcement efforts.
By January 2025, the implementation of new enforcement measures would be done under the FBR’s transformation plan.
Out of seven summaries moved to the prime minister, two are related to check smuggling, he pointed out.
In this regard, the FBR will empower provincial authorities to take enforcement action against illicit sales of cigarettes and other smuggled commodities through amendments in the FBR rules.
Under the FBR’s transformation plan, provincial departments would be empowered to take action against sales of illicit cigarettes. The FBR has limited workforce of 100 officers for conducting enforcement activities and need coordinated efforts of provinces.
About the progress on track and trace, the FBR chairman informed that the track and trace system has been fully implemented at the tobacco sector.
During the upcoming crushing season, the system would be 100 percent installed at all sugar mills.
In case of cement, the production lines of all cement units have not been covered under the system.
In this regard, meetings are taking place between the FBR and the cement manufacturers and hopefully it would be fully implemented in coming weeks.
The FBR chairman categorically stated that the FBR will bring multiple companies to execute the project of the track and trace system in different sectors.
Rashid Mahmood said that the FBR is reviewing the digital invoicing regime.
The FBR will replace the digital invoicing licensing regime with the certification regime.
This will facilitate the small and medium size businesses to have digital invoicing system without giving huge amount of registrations to the license holder.
The FBR will abolish the licensing regime for the digital invoicing and replace it with the certification regime, he added.
Copyright Business Recorder, 2024
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